On July 14, the Ministry of Economy and Finance published, through the National Securities Superintendency, a resolution regulating the public offer of securities for small and medium-sized companies. The idea is to guarantee adequate conditions of transparency and security to finance the sector. The measure is already in force.
The regulations apply to all individuals and legal entities under the supervision of the National Securities Superintendency, as well as to all subjects involved in the process of issuing, placing, negotiating and liquidating securities in the market.
The document provides guidelines for regulating authorized bonds, issuance modalities, requirements for holding a public offer, risk ratings, and for carrying out a comprehensive financial evaluation. The National Securities Superintendency will be the entity in charge of exercising control and vigilance over the financing operations involving debt securities carried out by this type of companies.